Federal Teacher Loan Forgiveness Program
ATTENTION! - You are only seeing the preview mode of this scholarship. In order to view the detailed scholarship information and help us MATCH YOU to OUR vast scholarship database, please login or signup for your FREE SchoolSoup.com account.
|Provided by:||State Grant and Special Programs Division|
|The purpose of the Federal Teacher Loan Forgiveness Program is to encourage individuals to enter and continue in the teaching profession. You may qualify if you teach full-time at a low-income school and meet other qualifications.|
|•You must not have had an outstanding balance on a FFEL or Direct Loan program loan as of October 1, 1998, or on the date that you obtained a Direct Loan Program loan or a FFEL Program loan after October 1, 1998. •If you are in default on a FFEL and/or Direct Loan program loan(s), you are not eligible for forgiveness of that loan(s) unless you have made satisfactory repayment arrangements with the holder of the defaulted loan(s). •The loan(s) for which you are seeking forgiveness was made prior to the end of your five academic years of qualifying teaching service. •You have not received benefits through the AmeriCorps Program under Subtitle D of Title I of the National and Community Service Act of 1990 for the same teaching service for which you are seeking forgiveness on your FFEL and/or Direct Loan program loan(s). •You must have been employed as a full-time teacher for five consecutive, complete academic years, at least one of which was after the 1997-1998 academic year, in an elementary or secondary school that: ◦Is in a school district that qualifies for funds under Title I of the Elementary and Secondary Education Act of 1965, as amended; ◦Has been selected by the U.S. Department of Education based on a determination that more than 30 percent of the school’s total enrollment is made up of children who qualify for services provided under Title I; and ◦Is listed in the Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits. If this directory is not available before May 1 of any year, the previous year’s directory may be used. Note: All elementary and secondary schools operated by the Bureau of Indian Education (BIE) or operated on Indian reservations by Indian tribal groups under contract with the BIE qualify as schools serving low-income students. These schools are qualifying schools for purposes of this loan forgiveness program. Note: If your school meets the above requirements for at least one year of your teaching service, but does not meet these requirements during subsequent years, your subsequent years of teaching at the school may be counted toward the required five consecutive, complete academic years of teaching.|
PRIVATE STUDENT LOANS
Private student loans are a great way to help meet the total cost of your education when federal financial aid and scholarships aren't enough.
- Everyone can Apply
- Great Low Rates
- Cover all your Education Costs